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Entries Tagged as 'News'

Foreign interest in U.S. homes is growing

June 2nd, 2008 · Comments Off

SEOUL, SOUTH KOREA - APRIL 22: A worker works at an apartment construction site on April 22, 2005 in Seoul, South Korea. The South Korean Labour Ministry disagrees with the government's human rights watchdog body over a bill on non-regular workers and will not accept its recommendations for revision. (Photo by Chung Sung-Jun/Getty Images)Seattle real estate agent Peter Oh is planning his next condominium showroom in Seoul, South Korea. It’s a sign of growing interest in U.S. real estate among overseas investors.

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Tags: MSNBC Real Estate · News

Foreclosure capital Stockton has odd market

June 1st, 2008 · Comments Off

A foreclosed home is seen in Stockton, California in this May 13, 2008 file photo. In some areas of California, so many foreclosed homes are available to buy on the cheap that real estate agents are discouraging prospective sellers from even putting their houses on the market. Perhaps the most extreme example of this is Stockton, about 136 km (85 miles) east of San Francisco, where roughly three of every four homes for sale are in or on the path to foreclosure. To match feature USA-HOUSING/STOCKTON    REUTERS/Robert Galbraith/Files (UNITED STATES)In some areas of California, so many foreclosed homes are available to buy on the cheap that real estate agents are discouraging prospective sellers from even putting their houses on the market.

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Tags: MSNBC Real Estate · News

Loan workouts hit record in April

May 30th, 2008 · Comments Off

A mortgage industry alliance, under pressure to show progress in its efforts to aid troubled borrowers, says lenders gave a record amount of assistance to homeowners last month.

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Tags: MSNBC Real Estate · News

Trump Marina to become ‘Margaritaville’

May 29th, 2008 · Comments Off

In this Monday, Nov. 22, 2004 file photograph, boats fill a marina in front of Trump Marina in Atlantic City, N.J. A New York gambling company is buying Atlantic City's Trump Marina Hotel Casino for $316 million, and will rename it "Margaritaville," the companies said Thursday, May 29, 2008. Coastal Marina LLC, an affiliate of Coastal Development LLC, is buying the casino from Trump Entertainment Resorts. Atlantic City’s Trump Marina Hotel Casino is being sold for $316 million to a New York company that plans to rename it “Margaritaville.”

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Tags: MSNBC Real Estate · News

Bear Stearns shareholders OK buyout

May 29th, 2008 · Comments Off

Bear Stearns shareholders OK’d JPMorgan’s $2.2B buyout of the investment bank whose wagers on subprime mortgages made it the largest corporate casualty of the credit crisis.

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Tags: MSNBC Real Estate · News

4 reasons housing won’t recover quickly

May 28th, 2008 · Comments Off

** FILE ** A realtor's sign is seen on the lawn of a foreclosed home in Egg Harbor Township, N.J. in this March  15, 2008 file photo. House Democrats plan adding $300 billion of government insurance for new loans to help borrowers get out of mortgages they can't afford to a Senate bill that admittedly falls short in heading off tens of thousands of looming foreclosures. (AP Photo/Mel Evans, file)Here are four issues that must be resolved before housing can stop being a drain on our economy.

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Tags: MSNBC Real Estate · News

Settlement reached for online real estate agents

May 27th, 2008 · Comments Off

The Justice Department gave online real estate brokers — and potentially their clients — a boost Tuesday by forcing a new industry policy opening access to home listings the agents were previously denied.

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Tags: MSNBC Real Estate · News

New home sales rise unexpectedly in April

May 27th, 2008 · Comments Off

Sales of new homes rose in April for the first time in six months although the unexpected increase still left activity near the lowest level in 17 years.

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Tags: MSNBC Real Estate · News

Home prices tumbled in first quarter

May 27th, 2008 · Comments Off

Standard & Poor’s analyst David Blitzer discusses the latest home-sales data on CNBC Tuesday. (CNBC)U.S. home prices dropped at the sharpest rate in two decades, a closely watched index showed Tuesday, a somber indication that the housing slump continues to deepen.

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Tags: MSNBC Real Estate · News

Plenty of ‘For Sale’ signs but not many sales

May 26th, 2008 · Comments Off

A Sept. 4, 2007 file  photo shows signs for several existing homes for sale in San Jose, Calif., Tuesday, Sept. 4, 2007.  Realtors reported Friday, May 23, 2008, that existing home sales fell 1 percent in April, the eighth drop in the past nine months, with the median home price falling 8 percent compared with a year ago, the second-biggest drop on record.  Like spring flowers, the “For Sale” signs are sprouting in front yards all over the country. But anxious sellers are facing the most brutal environment in decades, with a slumping economy, falling home prices and rising mortgage foreclosures.

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Tags: MSNBC Real Estate · News

Sales of existing homes fell 1 percent in April

May 23rd, 2008 · Comments Off

Sales of existing homes fell for the eighth time in the past nine months, with the backlog of unsold single-family homes rising to the highest level in more than two decades.

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Tags: MSNBC Real Estate · News

FBI: Big spike in mortgage fraud cases

May 22nd, 2008 · Comments Off

The housing market slump translated into brisk business last year for mortgage scammers and the federal agents who pursue them, with the FBI winning 206 convictions.

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Tags: MSNBC Real Estate · News

Home price index posts largest-ever decline

May 22nd, 2008 · Comments Off

A home-price index considered to be the most comprehensive reading posted the sharpest decline in its 17-year history, and analysts say housing has yet to bottom out.

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Tags: MSNBC Real Estate · News

Countrywide CEO criticizes customer e-mail

May 21st, 2008 · Comments Off

The chairman of beleaguered Countrywide Financial Corp. raised eyebrows and tempers with his snippy reply to an e-mail plea from a man who said he was in danger of losing his home.

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Tags: MSNBC Real Estate · News

Housing starts post surprising rebound

May 16th, 2008 · Comments Off

Housing construction rose by 8.2 percent in April. NBC's Diana Olick reports.  (MSNBC)Construction of new homes posted the biggest increase in more than two years in April, but analysts said it’s far too soon to declare an end to the prolonged slump.

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Fannie Mae scraps higher downpayment rule

May 16th, 2008 · Comments Off

Fannie Mae says it is doing away with higher minimum downpayment requirements for borrowers in distressed real estate markets.

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Foreclosure filings continued to climb in April

May 14th, 2008 · Comments Off

A foreclosure sign stands outside an existing home on the market in Denver on Friday, May 9, 2008. More U.S. homeowners fell behind on mortgage payments last month, driving the number of homes facing foreclosure up 65 percent Wednesday, May 14, 2008, versus the same month last year and contributing to a deepening slide in home values. More U.S. homeowners fell behind on mortgage payments last month, driving the number of homes facing foreclosure up 65 percent versus the same month last year.

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Tags: MSNBC Real Estate · News

Gut Check: Foreclosure’s fallout

May 13th, 2008 · Comments Off

In the latest installment of msnbc.com’s Gut Check America series, we ask you — our readers — to tell us how mounting home foreclosures are affecting your community.

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Tags: MSNBC Real Estate · News

Median home prices drop in many cities

May 13th, 2008 · Comments Off

Median home prices fell in two-thirds of the cities surveyed during the first three months of this year while 46 states reported experienced declining sales.

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Tags: MSNBC Real Estate · News

Remodeling business follows housing lower

May 13th, 2008 · Comments Off

The downturn in the housing market has dragged the remodeling sector with it. For many contractors, that means a sudden struggle to stay busy.

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Tags: MSNBC Real Estate · News